The turnover of wholesale flower markets in China has shown a remarkable increase from 2013 to 2023, reaching a value of 803.55 hundred million Yuans Renminbi in 2023. Over the last two years (2022-2023), this market experienced an average growth rate of 6.15% year-on-year with a notable jump of 8.15%. The annual compound growth rate (CAGR) over the past five years stands at 5.81%, indicating a healthy upward trend despite minor fluctuations such as a declined turnover in 2020 due to the pandemic.
Looking ahead, forecasted data indicates continuous growth in the wholesale flower market, with a projected increase reaching 1,020.0 hundred million Yuans Renminbi by 2028. The five-year forecast CAGR is expected to be around 3.7%, reflecting a steady expansion trajectory.
Future trends to watch for include the impact of e-commerce on traditional wholesale markets, increasing demand for ornamental flowers in urban areas, and potential disruptions due to environmental factors and global supply chain issues. Additional developments like sustainable flower farming practices and technological advancements in supply chain logistics could further influence market dynamics.
